All Forum Posts by: Joey Fontenot III

Oh ok thats an interesting way of handling maintenance. What type of things in the lease do you specify in the lease that pertains to maintenance? and do you do a Walk through upon move in? What is your Move-In process between you and the landlord

Thanks

I wanted to find out if anybody on BP used a rules and regulations booklet or print out in addition to their Lease to manage their tenants. For example, it might include maintenance questions or other pieces of information that could potentially cut down on service calls. It would serve as a more-in-depth piece of literature that could protect the landlord ( Of course if you get the wrong tenant it does not matter!). I think it would help on cutting down the grey area questions that can come up and you could add to the rules with more experiences and tenants you come across.
Any suggestions on your approach to the landlord tenant relationship would be much appreciated..

Thanks everybody for the replies. I like the idea of getting the properties professionally snaked before the tenants move in to cut down on service calls. I guess it would be unwise to use Roto rooter, so I will attempt to use a cheaper plumber

I recently put a new tenant into a rental and she called about excess sewage spewing into the tub when the toilet is flushed in one of the bathrooms. In addition she stated the washer was not working quite as effectively. The house is a 1950s property on city sewer and water. I am thinking that prolly the pipes have been stopped up and they need to be snaked. There are no trees on the lot, so I dont think that roots are busting through, but who knows. If you were in this situation would you call roto rooter or an actual plumber to fix the problem? and is there a way to prevent this problem in the future?

Thanks

Thanks Arthur and Patrick for the suggestions

I have just recently implemented the walk-through upon move-in to take into account of the condition of the property and make the tenant sign off that they agree to accept the property in the condition it is, along with picture evidence.
I plan on in the future using a rules of conduct agreement. it sounds like a smart way to keep the tenant-landlord relationship in check. Arthur do you have a copy of what the rules of conduct looked like? or what kind of rules you laid out to them in the agreement?

Hey Guys

I wanted to get all of the landlords feedback on how they handle the move-in process and move-out process for tenants in their rental properties including, how the process is outlined in a lease, what occurs on the day that they move in, and what occurs on the day they move out?

Thanks

Thanks Guys it sounds like Electiric is the way to go, but if a Gas one is already in there, it shouldn't be pulled out automatically and replaced until it gives out on you
I was also wondering whether you guys preferred your house to be all electric or a mix of gas and electric? Obviously it is cheaper for the tenant to have to only pay one deposit and bill to the power company.

Hey Guys

I am looking at purchasing a rental and was curious whether you guys preferred a Gas or an Electric Water Heater. I have read that the Gas Water Heater has cheaper monthly cost because it is easier to heat up the water, but the Electric water heater is a safer, more modern route.
If you were trying to install one into a rental which route would you choose to protect yourself and pick the longest lasting tank, that would be money well spent

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The rates were a bit high mine was in the 7% range, but this was for a 10 year term. The closing costs were in the $400- 500 range which was not bad at all. Any other investor getting better rates out there on a cash out refi loan???

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I ended up finding a regional bank in my area that is know for working with investors specifically in the rental houses arena. They were able to set me up with a 80% Cash out Refi. The process took me calling every single bank in my area and different credit unions, but there are banks out there that are willing to loan. The most important thing is to do your research before you buy your properties and make sure the numbers work because banks are looking strictly at the numbers!!!